New expert group needed to scrutinise Bank of England, says ex-watchdog boss eveningtelegraph.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from eveningtelegraph.co.uk Daily Mail and Mail on Sunday newspapers.
Capitalism is broken – we need the Government to fix it
Contrived scarcity is putting home ownership out of reach for a rising share of young families
Back in May 2019,
Economic Agenda warned the Western world faced a new “gilded age”. That name derives, of course, from an 1873 Mark Twain novel – which satirised the greed and decadence of late 19th century America.
Twain told of an era of monopolies, exploitation and corrupt links between political and business elites. His coruscating tale was, above all, a warning of what happens when capitalism ceases to work.
For the super-rich, gilded America was about vast wealth, sprawling estates and grotesque opulence. Pretty much everyone else had to scratch out a living, suffering if not grinding poverty, then economic subservience and financial insecurity.
The low down
Debates concerning the role and procedures of the Competition Appeal Tribunal mirror the UK’s dilemma post-Brexit. Are its excellence, diligence and the quality of its judgments part of Britain’s ‘soft power’ in the world, giving business the confidence in this jurisdiction? Or is the tribunal a brake on the laissez-faire economics that the pro-Leave camp expect to energise ‘Britain in the World’? Certainly, competition law specialists like and respect the CAT, and believe the broad alignment of its principles with EU law smooth the transition to a post-Brexit economy. But influential Conservative voices are among its critics, and with its caseload expected to increase by 40-50%, stretched resources could affect its performance.
Dominic Cummings returns to Parliament – the best bits spectator.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from spectator.co.uk Daily Mail and Mail on Sunday newspapers.
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Commissioned by the U.K. government to review its antitrust regime, Conservative Member of Parliament John Penrose’s “Power to the People” report proposes streamlined, modest changes rather than wholesale reform to the current regime. The report’s recommendations are outlined below:
Merger reviews and antitrust investigations should be done “faster, better,” with all but the most complicated cases resolved “within weeks or months rather than years.” Companies should be able to resolve cases at any time with remedies, and investigations should take place within a transparent and predictable legal framework;